The proposed acquisition of the South African assets of buildings materials group Lafarge South Africa by Afrimat apparently became fait accompli on Friday when the Competition Tribunal was informed there is no longer any opposition to the deal.
Last year, the commission recommended the transaction be approved with some conditions, which include the merging parties to divest certain quarries where its ownership concentration would limit competition. After a series of engagements with some of the parties that had registered objections to the proposed merger, Afrimat has effectively sealed the transaction over the past few weeks. Most of the objecting parties were some of the communities hosting Lafarge's quarries and sand mines.South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism.
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Source: Moneyweb - 🏆 5. / 77 Read more »